- India\'s first seaplane serviceWhy did Kareena Kapoor refuse to work with Farhan Akhtar?Nayana arrested for blackmailing with sex tapeTop most Sexy South SirensIn pics: Upcoming movies of Bollywood superstar Salman KhanOMG! Saif caught with pants down, view picsNew Alto K10 to launch next monthParties begin in Rajesh Khanna\'s AashirwaadEkta Kapoor's Box Cricket LeagueWatch Deepika Padukone promoting Happy New Year
South African prison officials say Oscar Pistorius spent his first night in a single cell
Landlord's PAN must for tax benefit if rent exceeds Rs 1 lakh Last Updated : 18 Dec 2013 03:33:41 PM IST Quoting PAN number of landlord is must if the annual house rent exceeds Rs 1 lakh (File Photo)
Quoting landlord's PAN is mandatory if you pay more than Rs 1 lakh annually towards house rent.
If the PAN is not furnished then it would not be possible to claim tax benefit under House Rent Allowance.
"...an employee claiming exemption from tax with respect to House Rent Allowance received is now required to report the PAN of the landlord to the employer, if the rent paid by the employee to the landlord exceeds Rs 1 lakh per annum, along with the rent receipt," said Minister of Sate for Finance J D Seelam in a written statement in the Rajya Sabha on Tuesday, Dec 17.
He quoted a circular by the Central Board of Direct Taxes (CBDT) on the matter of deduction of tax at source during the payment of salaries.
"In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employees," he added.
In a separate response, Seelam said the number of tax assesses have increased manifold. In the past 15 years, the number of effective IT assesses has increased by more than three times from 1.16 crore as on March 1997 to 3.63 crore at the end of March 2012.
He also said 42,800 persons other than companies admitted to a taxable income exceeding Rs 1 crore.
"The Cabinet has approved the cadre restructuring of the Income Tax Department in May 2013. The implementation of the same is under progress," he said.
Additional 1,080 assessment units to be manned by around 20,000 more personnel have been created to meet the increasing number of IT assesses, he said.
Post Your Comment (0 posted):
The best friends in Bollywood, superstars Salman Khan and Aamir Khan, will be seen togethe
- Why did Kareena Kapoor refuse to work with Farhan Akhtar?
- Nayana arrested for blackmailing with sex tape
- Top most Sexy South Sirens
- In pics: Upcoming movies of Bollywood superstar Salman Khan
- OMG! Saif caught with pants down, view pics
- Parties begin in Rajesh Khanna's Aashirwaad
- Ekta Kapoor's Box Cricket League
- Watch Deepika Padukone promoting Happy New Year
In a spooky mix-up, a woman in the UK was horrified at receiving text messages from her de
Korean handset maker Samsung on Tuesday launched its most expensive device in the country